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Stunningly good AMC news: We successfully refinanced $1.6 billion of debt (with a plan for up to $850 million more). Was due to be repaid starting in 21 months. Now maturity dates extended to 2029 & 2030. We get years of added breathing room to build, grow and strengthen AMC.
Here is the official press release. You can see for yourself the complexity of this series of financial. transactions, which extend AMC debt maturities from 2026 instead to 2029 and 2030.
People have been predicting the demise of movie theatres, seemingly forever. Radio, TV, VCRs, DVDs, streaming, and Covid all would bring our end, per the conventional wisdom. How wrong could they be? Wrong, wrong, wrong in my view.
Admittedly, the ravages of COVID were a kick in the teeth, but our industry has been building back up steadily from 2020 to 2023.
Our largest issue now is that Hollywood has been releasing fewer movies, primarily because of production delays caused by five months of actors and writers strikes in 2023. As we look at the industry-wide box office for 2025 and 2026, knowing the movies currently slated for release, we are quite optimistic about developments for our company in the years ahead.
There will be tosses and turns along the way, of course. But AMC has been leading the way since 1920, and I have every confidence we will continue to make progress on our path forward.
AMC crushed it at the box office this weekend. Our busiest of the year in 2024 so far, with 3.8 million guests at our U.S. theatres. Friday was the single busiest day of ‘24. That record lasted only one day, Saturday beat it. Only fools believe that movie theatres are dead.
I’m very aware of what the average retail investor has been saying about the need for greater transparency in our markets, stronger regulatory oversight and tougher penalties for market manipulation and criminal behavior. My administration will support the Ape retail rebellion and enact aggressive Wall Street reforms.
To match action with words, I just invested $24,000 in GameStop from the fees I earned from suing Monsanto for their knowingly poisoning our soil and causing cancer. I love the idea of making Monsanto support $GME and the Apes. We need a free and fair market. Let’s punish predatory short selling to the moon. By the way, I ride with you and I’m not leaving.
#ApesNotLeaving #ApesTogetherStrong #GME #AMC @TheRoaringKitty@StockRetail@KatStryker111@Cancelcloco@BossBlunts1@LanceKhazei@PeterRHann1 @Human_Augustus
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